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NNDM Nano Dimension

Participants
Yoav Stern Chairman and CEO
Yael Sandler Chief Financial Officer
Byron Meo 1031 Private Exchange Group
Call transcript
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Operator

Ladies and gentlemen, thank you for standing by. All participants are at present in listen-only mode. Welcome to today’s conference call to discuss Nano Dimension’s Third Quarter 2021 Results.

On the call with us today are Yoav Stern, Chairman and CEO; and Yael Sandler, CFO.

Before we begin, may I remind our listeners that certain information provided on this call may contain forward-looking statements and the Safe Harbor statement outlined in today’s earnings press release also pertains to this call.

received in of of the website. not please press the have it view Investor you a the copy release, company’s If Relations section will answer questions update, the second a session, Yoav financial which regarding call results. XXXX a at will by question-and-answer business Yael time quarter the begin followed with

like conference Stern. recorded, to reminder, November the over As Mr. hand I would to XXXX. this call a Yoav to XX, is being Mr. Stern, you like begin? would now

Yoav Stern

much. very speak the that they you Sure. where Thanks will me to are course, everybody. think, you Thank participating. I of direct question to Hi, as for I you and focusing subject ask other are want let subjects. on interesting, interesting,

months, least and months half I little and months So, this first of ago. came all, I bit Corona year company, when started. within definitely which nine best since more nine the this was at a this But these quarter company, into a a gone, to than quarter came two and

we great was as which are to things compared have advancement, moving year, But lousy forward. last year. a yes, So,

of and last a Germany importantly the like, successful in very release. to We and people within don’t and few relatively though IV immediately Germany two everything than where started seen half about that’s in real had and amount machine the still which show announced even in top Productronica Great yet. days. performance delay, being of were allow and orders numbers, specifically show but no we very More the didn’t see necessarily a We in seen companies new be all of can had the DragonFly show big arrive. years leads. of already was you IV, the year we excitement purchase the achieved a and released to wave, and participated movements when for week, We that, a versus was other in two or because you many week, the it’s shows there struggle the with that half DragonFly eager ours, last

So we’re about excited very it.

before later well, the than the what business on higher million to name completed more a and Essemtec, our -- certain $XX we higher, and a theirs. million no performance to which combined growing, of $XX can as for bit on we show million, $X and but which we million with go weeks show, to we to it’s is close pay. few with was an million purchased expands a Importantly, announced like little $XX $XX acquisition Essemtec profitable

We’re not are our if things in -- we you me. into -- believe ourselves the what we overly allow M&A can to payment resulting for the, over ask glide which an discuss many to market, going

picking in we printing process to environment. building, in where with devices to in dimensional very to component are the become We to and team components breakthrough a we’ll way continue going three non-intrusive we’re to will major ours, expect and They’re have going which we’re the a technologies of do and and are so proud and from and fortunate buying joined choosing, we us. Switzerland grow continue Essemtec very electronic printing our clean mounting with to synergies merge of

is your in share to news I’ll of about continue went the to few as of one when people subject. hear you of the the tax end in try have probably made have news lines, you be you have now possible. But on to price theories we people to of ask you this do so the issues on at my those investments about order public why when follow XX questions asking a going price helpful can experience made The mounted to I least evade went people the a who think the down that wait the the shows markets were down, lots A sell in to can good. purchased year. and them that They coming sell and paying shares taxes shares many you get losses, these so that they quite So ask and/or money I’m preempt M&A against will about intended with the your ours would money to re-buy it and and get of called, sales, share, the lines, of they off words or and but order on end the in months similar the in to way shares questions, the answer what not days are along before that have year they the down wash take be on the of when when what’s questions, at year, them. lot toward compared for,

people that and hold amount went want which Based share maybe are low very down price causing that that, of certain have as even So on smaller the our volumes. is pressure. to volumes doing shares shares, I see

I very you So is reason of can’t happening very To loyal as things work else. have similar we -- these for. good and many, guess we admire loyal in and I’ve situations. don’t before people any or other guess that. shareholders, about which as than But seen many I see other anybody my

of a frustrated price We are have that the shareholders other bit of obviously because the share. some

said I how company. in expect I in and or had originally short-term major be repeating are that going us effect effect to us every results disappointed. joined That’s shareholders and in call the an long-term have investment the investing who investment to every earlier a quarterly As newsletter and and are, people is the

the us invested place, buyout with company buyout people from and a company no for but over who for shares a market to the quarters. going order So personally, that that X team There’s will claiming not -- not to for perform buy the I was investment, and emails the their be buyout by who or as few sending in times upside, over there’s invested offers. few outside all the years, offer money options X any times over we’re shareholders, in a which a by company met

shares the not in intend to given shares we market us So by we’ll to with be company, the be the soon, soon. anytime happen don’t investors. money from buy to the but From we’ll choose to and future in may accumulating it’s profitable going profit. buy profit, a we When

ask be will to be than going guys please. I’m to interest there if your questions directing to other questions So specific about I going to us will -- that I us that, -- to them. you to And were answered it, interest, refer

Operator

[ph]. first sir. Instructions] Please you, Maheshwari Thank The go [Operator is ahead. of Xenca from Capital Puneet question

Unidentified Analyst

Hi, -- you question the the launch? they And of we from executive the further the if Thank of one the launch, those and have couple who mentioned Mr. do visited great -- up of of the He of a and years and machine we recent of show the interested strides back I regarding you. did joined IV to interest the a have CEO. DragonFly the are in with can and how top sale made two one machines are WebEx believe machine reception they on speed. more elaborate four the current not Amazon. one and buying customers, players the and tech in the I of years one in how how let they us we in was was

Yoav Stern

now. in it years didn’t meet the ago and want wants machine I any two didn’t customer that

new that answer the that successful customers are two your had we machine machines. performance meet to previous So is were now machines. people first of the don’t I the were know. that The question interested better machines which excited are it. very are the with The in very meet customers sides, happy about are very and and I with There the

Unidentified Analyst

Okay. Thank you.

Yoav Stern

Thank you.

Unidentified Analyst

it me. Yeah. That’s for

Operator

Rice is SmallCap question Investments [ph]. go The Please next ahead. of Jeff from

Unidentified Analyst

you table said, I that agree sense. I Also about price previously on take buyout the minority made Stern. a day, said what that sense any of especially make Nano you, to now, it I’m I someone that doesn’t the insight. which to is that was if sir. like then, wondering Hensoldt on mentioned with I know price results question, robotic ranking you and company. second ER on my out AI then Good From be no looks I LXHarris earlier, the on appreciate ownership, company obviously, Difficulty] the story. just a [Technical with be to know And robotics you said, arm, the Mr. offered current you elaborate like the a seeing, touch what company to that? an share someone that, wanted would a But Dimension more different versus or just Great this [ph]. possibility? Thank that’s what price if

Yoav Stern

second so good. question? was What not the you repeat Can it? repeat the Can was you that, was the question? line What sorry,

Unidentified Analyst

Yes, Yes, if company, I into to money in sir. LXHarris Dimension’s of take have or say, would wanted was wondering, you be a small one SEMICON, our put they some let’s Hensoldt ownership partners stake minority Nano or to that? sir. to open to the

Yoav Stern

very you Okay. questions. two take your much. I’ll Thank

will this I when now. and it we’ll bring The to know I’ll but until will nobody me, the they me question, it to offered offer and don’t decide, I Board second consider

that which machines, into developing robotic higher seriously be something an machine, the brand zero becoming digital or much digital industry, et if of able problem the a we processes, cetera, conflict machine process to something dimensional artificial yield, or machines deep On X. of better or company. or manufacturing ever. all with the you’re process. believe call machine the end et of without three adding absolutely better being while analog drops lead something and are Production tilting the learning of want analog to manufacturing that an adds something holy something At and right, grail an which it cetera, something to inherent melt definition totally and area first whole intelligence you and production. artificial that question, and electronics the industrial something is both like, moving accurate, yes, accurate day, are brand be not are the additive production learning cannot It’s very will AME by these into We cuts overcome very, more not

are it’s you things deviations, a that limitations, a the are it process. have the the real some overcome without combinations that part. correct is brand the them are to either process can what is new real time it and statistics that stop with in or deviations, has decide time a to within being and and order formulas too the statistical -- affected able to the deviations analyzing in statistical having to non-accurate, having do of without being wild to restart limited something So yield In need and limitations and by statistical

So, question. by not can minimum regular and advanced we machines of you the reason ago, of by we’re in that year intelligence with algorithms holy manufacturing and Thank we advanced to there very where DeepCube for and additive we of the artificial it. very, That’s -- are three be -- processes through last material, only But machines our a the the even much reducing learning and purchased machines, the acquisitions reducing achieved correcting. but processes by about grail aspects very machines cost believe learning self not and effect, and many to market, the months integrating in learning dimensional, are will and deep self in starting intelligence machine artificial manner. that be excited led ecological very six more acquisitions now time are for half

Operator

question ahead. go Rich The [ph]. is Brun Please next from

Unidentified Analyst

at your for or Dimension. and have morning leadership it Is congratulations Dimension? Nano do the think the hindering the and you Dimension what the still progress on about you observations consistency, production COVID that on Good the on what development it? the greatest the challenge Hi. of lingering is Based quality have software doing Hello. Nano is materials, our capabilities, progress single the we today, Nano do on

Yoav Stern

big it is is lingering. you The But as item is a is mentioned challenge. COVID. long-term. not It’s It It not a It last there. challenging.

is history look and on in three pandemics at that, years. I’m the of five world If reading not to pandemic just a years an you I’m average lot. expert the An

a disappear semi-yearly is -- including challenge, a But the also year. it’s pandemic a it’s in So everybody It’s challenge. a define face. challenge is will that wouldn’t even the it I We’ll way thought changing. myself, Reality by through our -- our as challenge. it. get that within quarterly

I’ve -- little technological So or time. said we’ll the sell development, for little slower. different sell Other a challenges challenges material bit That’s a point. which is not bit a ways long

industry, material I sauce have and advantage this proud proud that you developing should in in because materials whole which We secret be to much try so manufacturing what -- be that’s the people We is machines call, sophisticated development. very as additive great they in let’s believe see. believe the

product in between easily automated all additive see additive -- are that materials are that’s That performance I or machine moving product and the a to the manufacturing use needed. a and electronics. the for end the deposited are additive doing, major manufacture, not in use involvement. when having adjustable challenge. came performance that there’s field. type and easily and a additive the we not Celsius the you and now In and In that fit we process necessarily true after to product with only materials. well, zero and materials Celsius when between just need about is in because without ago, that’s major you degree But But Celsius. no the times, dependency to actually degree robotic are the of fit the create performing and within balancing dependency challenge the easy between very very ahead conflict product the and are people You miracles manufacturer half the It’s performing materials year many specifically working degree and are shouldn’t ways to and which I of all, true. manufacturing and industry, -- is minor all nicely, encouraged even that here degree to The using great of instance, an you making many a materials is so manufacturing, the end all. the materials have soon XXX challenges deposition that bit they little being for a soldering parallel, moving give I’m to the going is it’s it’s for Celsius in risk at in say very, example, revenue for margin degrees zero Celsius were we’re we’re doing doing, paste. materials comparing above And very, But Celsius, materials materials, soldiering building parts now assembling at XXX on zero involving glues. in below which XX is And gross by and the purchase that. we Essemtec, we’re generating as involved beautiful is what degree M&A, complementary glues because of it has but parts a since or and have Actually, not

of this the the you business. other So of question. balances for the rest Thank the in part materials

Unidentified Analyst

Okay.

that and -- research So development what be through Is it or solved can on what challenge something materials? through aggressive that acquisition? the

Yoav Stern

Both. Yes.

Unidentified Analyst

Both.

it to And in to NG that acquisition. comes -- see And strategy, the that’s Okay. when added if are one just know acquisition on Type direction, I thing, seeking specific Type for a NG. you the opportunities also that DeepCube don’t we I or the

Yoav Stern

types, sorry? What

Unidentified Analyst

acquisition Type there’s I on NG, a presentation, Type strategy. NG your noticed

Yoav Stern

Yeah.

Unidentified Analyst

DeepCube sure to too it’s not if or… I’m specific

Yoav Stern

No. No. Yeah. NG. if have. Well, to don’t call Type No. it want We you

used We’re generation. for new -- for looking NG really is

But machines investments. those of They very more learning the electronics. machine today. Essemtec But companies We’re we for distribution in manner, are electronics, to looking for is Except channels. deep like is very, selling like the importantly, manufacturing Fabrica Yes, you’re electronics purchased their machines manufacturing, it adjacent that like, to that to are learning, without additive right, machines companies application which using is is Essemtec. which additive Deep through adjacent Fabrica, additional we’re similar our AME -- within similar and ours. are the

products, market we knowledge the companies them that can have we in systems applying expand we’ll in be the able the had we to areas Once we cetera. additive looking we manufacturing manufacturing the and learning reason realized before additive by machine but et segment also of are the we that cetera, leverage are in due stay DeepCube not it like diligence, and electronics, of not had additive case that we was in -- manufacturing manufacturing Group. that’s purchased only and to et in So we which we micromechanical our to it, the additive actually purchase,

additional the identify are and right that So you’re to that.

Unidentified Analyst

just trust that right. the encourage I to Thank and was And not the process. tourists, you. investors want you. on All fast I right, Thank

Yoav Stern

Thank you.

Operator

The Eric next from ahead. question is Marcus Please [ph]. go

Unidentified Analyst

fact Mr. some my now. Stern, I’m morning, market my a comments. $X.X stems going may billion. shareholder I’m questions those afternoon due long Good you the with respect, I but And hand that good senior on or And comments. address right time concern I tech is guess, million, Nano’s for and right long-term -- your early is from cash about to a in of opening the now, Israel to all cap $X.X exec. Thank

the logical I very shareholder understand comment, tax extension the understand address to is dollars. really And last losses in the is there market five to loss is shareholders So protect how end. not just share at XX% That’s the does are a want months. company your interest. really going the the reasoning in that valuing value to that not company that I concerning zero as we’ve that take selling shareholder. But year seen above

done in there could that being be are done is think fact being beyond things today. I what

acquisition, significant a why something year venture $XXX of additive into $XX thought price joint share VP, For marketing appreciate example, being marketing in client, global wonderful out looking there to I plant, things What into business? Mr. just with put could million a million well robotics a $XXX acquisition, manufacturing understand the what about I would are integrating significant forward AI go new million to the shareholder management a marketing? the what or is fab instead is currently freefall, into large when simply your acquisition, the or over at comments, million address I $XX be with million that’s about a a which PCB allowing supporting don’t a a think strategy not done that aggressive senior to but value. very Stern. $XX about

Yoav Stern

the is What question please?

Unidentified Analyst

to Do sir? you want it repeat again, me

Yoav Stern

No.

You asking are but good me? a what ideas, of you gave lot asking, me

Unidentified Analyst

know aggressive you’re to shares. the what billion, know the sitting I want instead to while do willing market freefall while stop stock to of what I on is to want action the -- proactive evaluating $X.X of What I’ve to three interests? your given you prepared to you at shareholders? shareholder are value? I’d What ideas. your to do are? what to protect you to do ideas protect company going negative you’re like know are

Yoav Stern

are of going your are to develop to We But continue ideas And more and part do your have to reasons company the works. more you going use competitive three competition not the ideas, because ideas we’re and business them of good so. and in the ideas to to we going very describe actually and M&A. all that of the ideas, mentioned, of I’m

Unidentified Analyst

concerned I’m freefall? the is while the about appearing six months for in to sidelines just stock management last sit the very on price

Yoav Stern

sir. around more I’m But sitting. you working getting Corona I’m up. XX%. buy countries the and morning going within stock, out hours, sleep I’m the of you’re traveled world probably X will go everyday and XX Okay, stock at can where that don’t within I I know the X, to back

question, please. Next

Operator

Please Meo go ahead. Exchange The XXXX next Private from Group. question of is Byron

Byron Meo

about it lifespan expectations? sell is to know the into a the And these roughly is production went what the in Hi. next-generation replaced -- And I’d by What three then money how part it’s your it what are question. is type DragonFly before IV. like for? you. much Thank of

Yoav Stern

and to IV it is the what is price sell what You call what asking a -- DragonFly the the price? you manufacture

Byron Meo

in and gets a money expensive that a research and took goes it and machine, Obviously, lot capitalized of the and those. obviously, there’s for spell Yeah. and development

game. to ahead kind So what of have technology can the I’m trying keep stay to you from generate figure out profit of Obviously, machines. to advancing the you

biotechs sell because the stock the only -- profitability, you’re why and company are lot people I’m a it that, questioning the of burn below way. the buyers are one think selling it I just to reasons the of cash is that So not cash selling

like profitability and the development of kind I’d to the So burn cash of DragonFly analyze the from the IV?

Yoav Stern

can DragonFly, the invest than more you in the we much from for IV. of the analyze needed because of development it DragonFly development Well, R&D

a said IV amount money as invested investment amount that. or development of about products that you that’s flow more invest depending of millions based have DragonFly right not we flow will learning. it very money of generation reason, more is forward pressure the IV much and because above like any long into take question, develop the in your invested is And except are the time under that than the was DragonFly including money of biotech moving profitability products low that And a is three Eventually, gross and is the be a Regarding we therefore, dollars. not new to I machine cash of in DragonFly was that of a to was developing spent beautiful cash easily. set for The to XX%, the revenue, machine before, companies, a and to -- to term IV be is it issue back of to on return the position DragonFly, based market. in about a very is as We your plan. businessman… what on the year it’ll the year similar, And margin attractive the is years the enough are explained them beyond which strategy, on brought IV between that’s long-term that product in DragonFly sold machine R&D for very, we’re we

Byron Meo

Okay.

Yoav Stern

return investment next that. But in you can tell not profitable to the I a to … position. year. will the get going whole as happen company it’s a

Byron Meo

type XXXX to No. at or and all the be points along that. I inflection understood that XXXX all

Yoav Stern

Yeah.

Byron Meo

are a goods. people, think cash cash the yearly think of your presently outside you of I hired what you’ve and lot I where is But hired of a a on researchers cost burn of burn, basis you’ve the lot

Yoav Stern

$XX million.

Byron Meo

Okay.

Operator

up Jeff ahead. follow Rice Please is SmallCap question Investments. a go of There from

Unidentified Analyst

wanted question happier share I participated Stern. one Mr. again, interject I for million, okay. $XX.XX personally the here. you, We’ve No Thank understand offering Hi. I the [ph] now. the on price. right to everyone’s in imagine $XXX is

from that’s XX% So before. over down

long-term us expect profit. least on our vision, at Now, I the or and double to triple investment

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Yoav Stern

sentence? the didn’t I sorry, understand last What,

Unidentified Analyst

page we get better to That right when of -- now? with the and maybe arguing instead everyone need is same other. all on frustrated I communicate each know

Yoav Stern

to a XX days arguing? I -- How long call? call how long you have just you do want Who every a ago. conference conference do had is

Unidentified Analyst

All right.

Okay. I’m trying to be respectful.

Yoav Stern

How you do have -- how call. want to a every conference long

Unidentified Analyst

not automatic interval. It’s an

Yoav Stern

me? answer want So, want or you me asking, you want I’m to me do you you do? to What

Unidentified Analyst

want back want you That’s that. to over I do just I stock you to is do? What what

Yoav Stern

can’t you. I What? hear

Your before was It so either. not line clear. is not clear

Unidentified Analyst

to the digits. I want to back get stock double you

Yoav Stern

the communicating investors and And with stock this stock sold being of with bought I anywhere, shareholders. meeting running and investors. getting I’m project I’m not I am value am or the the am business. is and company. a CEO with project price. the the I sir.

due all respect, with So sir.

Unidentified Analyst

right negative now. It’s

Yoav Stern

My invested That’s will to to is forward here. company and the money going invested continue market time follow here. is And on. is My happen. successfully the moving

Unidentified Analyst

Okay.

the protection dollars any company’s about, the is So right what now? negative takeover since against there worth hostile

Yoav Stern

no all aggressively protection be it control, will to get the volume who to to of him of way, will by shares will then and is a to the takeover, including certain they a constituencies against a start XXXX way gain will the mean, am I the go that is company will of purpose and on I shareholder beyond purpose employees am my hostile that company one in. happy, first to the will being including are the making running that will there, to myself, back amount make you are last the because give And XXXX. of make sure and the shareholders will of to going want includes traded, the shares, because will if foremost, go hostile and and if hold stock that me, of stock lot, buy a sure and replace make amount money customers and There the all public you management, I somebody that’s is to price the money. myself.

company I’m before oppose any can offer market here the takeover, can price So not shares the buy people to offering will to to the in buy or go back all. XXXX. That’s

Unidentified Analyst

it. appreciate Thank sir. I you, Okay.

Operator

Group. Exchange question ahead. is Byron Please go of Meo Private another There from up XXXX follow

Byron Meo

$X even comment Yeah. that at what’s all the if particular with and D, look if just companies going came went to follow growth like they you it’s you XX at $X has something XXXX this print though things, hit, company, sympathy $X $X.X. on to at look different huge now or and like a or taken that I or triple desktop industry public in the whole metal, with or I’d XD desktop

think six question you of one? least do So as as get profitability on but or as towards have going One the and a another months severe forecast acquisitions tumultuousness the countries cash, the went have and stuff. what’s does control to he use cash is the the into this growth last did over macro Germany was, at you burn because doesn’t move control lockdown, as I we over phase and contemplating any the lockdown. what and Do squeezed. just of I of is going He between environment the not this the going mean, have be another into

Yoav Stern

there thanks as lockdown. for prevent -- way being and My as yours. they Austria, were a be. or traveling good It to me and the did guess came guess on it not is just My to question. from I need on I from while where Germany back

process the to opening Central soon. is R&D and as Munich very and in in a in Germany Austria. you Switzerland, are center which just commercial Europe, close a We subsidiary We company in purchased and of know

We Austrian are in negotiation within Australia, company. sorry,

earlier, We in It’s Austria. and be not this can all next. to have the of visitors Yes, things from supposed one back. said to hold hold hold They’re back. a and break. Germany affected But strategic questions as be local a I here it’s

year. on years. ago came effect. are I’m believe long-term, about an the it it’s we read in way not effects back speak we But It and you as the I to on from environment looking when major to think better. Thank healthy. our effect for in are came day at happening what’s effects. talking have we it I I certain are read the going I’m call I talking five not countries, you. about the a, like and Yes, find direction looking news, it, as solutions them business. to every year has have just will Things But the the a or be long-term, that. back half a

Byron Meo

you. Thank

Operator

Sagrino [ph]. is question Please from go next Bob ahead. The

Unidentified Analyst

all at different what developing technology of you everybody? found about are really company But company. IO your the a much heard, of haven’t handle now on nipping I mentioned, materials. are least heels was wondering can Yes. that companies Tech competition. particular still year if competition, anything called at you ahead you right faring of and question with a there’s, else is I that How My I types are

Yoav Stern

know sell They with revenue have company a less less us, to is year, wanted Tech million. maybe than than They We We They or well. said million. were have license which deposition $XXX,XXX a them to us. machine any $XXX a an is competition $XXX a of we affecting may interesting technology, no. from very themselves trying don’t IO laser them. above that materially

world. with As have full around machine already you the XX more we may machines, remember, than customers sold

lot a a So them, ago. working we startups the what not small are of weeks that’s mature and ago, technology, actually material with days they trying them. in in see but was get a but verified we’re there, was Productronica have competition, -- it as Show, which way. companies not very see mature XX two we the that as do than have Other interesting We not to

Unidentified Analyst

you. Thank Okay.

Yoav Stern

Thank you.

Operator

further Stern, There time. concluding are statement. questions Mr. you like to no this would your at make

Yoav Stern

think participating. by much for open. now you Market very, Thank I is Yeah. very

So want I’m and just of more conference more all I’m the your request as I better. to one as work do as that I’ll up calls of I is will time. as you concerned, much to go follow sure the to much it take too was don’t much here

calls, so find Thank opportunities very So have we’ll in be conference we’ll you many as touch. much. to

Operator

results Thank participation. concludes third call. Nano the you. you Dimension Thank XXXX This quarter for your

You may ahead go and disconnect.